The 67-story condominium won’t be completed until 2021, but already has nearly 700 buyer inquiries.
Skyline Tower is being built across from the former Citicorp building in Long Island City, Queens, where Amazon has leased one million square feet of space.CreditCreditRendering by Binyan Studios
Posted On Thu, December 13, 2018 By Dana Schulz
Rendering via Hill West Architects; frame via Pixabay
The votes have been tallied, and it’s time to name the 2018 Building of the Year! The winning title belongs to none other than Long Island City’s Skyline Tower. The 778-foot-tall tower beat out 11 other significant NYC buildings in a competitive two-week competition held by 6sqft. Out of nearly 3,000 votes cast, the Hill West-designed structure took first place with a whopping 1,021 votes or 35.5% of the total. Was it the fact that the Skyline Tower is on course to become the borough’s tallest building? Or that it has an estimated $1.088 billion sellout, the first in the borough to break the one billion mark? Or perhaps it’s the LIC location, the forthcoming home to 25,000 Amazon employees? ...
Queens neighborhood has seen surge of residential development in the last decade
By Keiko Morris
Updated July 8, 2018 3:51 p.m. ET
A venture planning to develop a soaring condominium tower in Long Island City, Queens, has scored a $502 million construction loan for the 802-apartment project that will test demand in this relatively new condo market.
A group of banks—led by JPMorgan Chase & Co.—made the loan at the end of June to the venture led by Queens-based developer Chris Xu, according to Meridian Capital Group, the firm that brokered the financing. The group began foundation work on the 67-story tower at 23-14 44th Drive late last year.
Developer had paid $100 million for full 4-acre site. Chris Xu and a rendering of River Park Place (Credit: Ismael Levya). UPDATED, 3:12 p.m., Dec. 7: Prolific Queens developer Chris “Jiashu” Xu has sold off part of a Flushing assemblage he bought last year.
2-23 Borden Avenue & 2-24 51st Avenue were just sold to Brian Pun, whom with Chris Xu is developing the tallest building in Queens. The two adjacent lots in Long Island City, Queens, sold for $10,170,000 according public record and a press release from Marcus & Millichap who represented the seller.